he Federal Government has deducted a total of N29billion from allocations to states as part of the N614 billion given to them as budget support facility.
Minister of State for Finance, Budget and National Planning, Clem Agba, stated this while briefing State House correspondents after the National Economic Council’s meeting presided over by Vice-President Yemi Osinbajo.
Agba said the Federal Government has continued to implement the deductions in five consecutive months.
He said the amount recovered has been remitted to the Central Bank of Nigeria.
Agba also reported on balances in Nigeria’s Special Accounts as at January 21, 2020.
According to him, the balance in the Excess Crude Account was $321,293,190.35, while the balance in Stabilization Account was N31,840, 200,473.17.
He also said that the balance in Natural Resource Development Account was N96,991,981,055.54.
Source: VON
